The Disappearing Contractor of Madison Street

In connection with the departure of William Tierney, the contractor, it may be stated that he held the contract for the Mill Street grade to a firm that is prepared to finish the work. The liens on this work have been paid month by month, and the city has retained twenty-five percent of the amount of the estimates on this work. There has now been drawn on this work $4,380.85 in three warrants, and the city has retained on the estimates $1,580.18, so that on this work the rights of Seattle are secured. The work on Madison Street was contracted for by Tierney at the lump sum of $5,400, and J. I. McGuire is the principal bondsman. Before Mr. McGuire would sign the bond, he insisted on Tierney making a deposit of two thousand dollars in Dexter Horton & Co.’s bank. Tierney could not, however, deposit the full amount, and eighteen hundred dollars was placed in the bank and the bond was signed and approved by acting Mayor Furth. The deposit was made in Tierney’s own name, and it now appears that he checked out the whole amount, with the exception of $8.78, which still stands to his credit in the bank. On the Madison Street work, there is to be drawn in all $5,400, leaving a balance of $3,600 for the completion of the work. This will have to be accepted by the bondsmen to pay most for what remains to be done, and some of the city officials are of the opinion that it will a little more than suffice. From what can be learned, it appears that Tierney paid over to no one any part of the money he received for this work and has got away with the whole six thousand odd dollars. It is understood that Tierney is in Victoria.